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Egypt's election delay leaves foreign investors uncertain

Economists say that the delayed Egyptian parliamentary elections might discourage foreign investors, whose first consideration is stability in Egypt.
Egypt's Finance Minister Hany Dimian (L-R), central bank governor Hisham Ramez, Prime Minister Ibrahim Mehleb and Planning Minister Ashraf al-Arabi attend the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 14, 2015. Gulf Arab allies pledged a further $12 billion of investments and central bank deposits for Egypt at an international summit on Friday, a big boost to President Abdel Fattah al-Sisi as he tries to reform the economy after ye
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After a delay of over a year, the Egypt Economic Development Conference kicked off on March 13 in Sharm el-Sheikh with the participation of 90 countries. This would be Egypt’s opportunity to rebuild its economy by attracting international institutions and countries to invest in Egypt, helping a cash-strapped economy by raising Egypt's annual economic growth to 3.8%.

The conference, which Egyptian President Abdel Fattah al-Sisi described on his official Twitter account March 10 as the key to the future and the beginning of development in the country, is being held in the absence of a parliament.

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